ITI inks $750M psych drug discovery pact with Takeda

Intra-Cellular Therapies announced this morning that it struck a preclinical discovery deal with Takeda to develop and commercialize selective phosphodiesterase type 1 (PDE1) inhibitors for cognitive impairment associated with schizophrenia. ITI has retained the option to co-promote with Takeda in the United States.

There's no word on the upfront involved, but ITI will be eligible for $500 million in development milestones plus another $250 million in sales-based milestones, along with tiered royalty payments.

Takeda will be solely responsible for development, manufacturing and commercialization of PDE1 inhibitors. ITI's PDE1 inhibitors are orally available, preclinical stage compounds. These compounds have potential to treat a variety of psychiatric and neurological diseases.

"We are able to enhance our central nervous system pipeline, one of our core therapeutic areas, through this collaboration," said Shigenori Ohkawa, the chief scientific officer of Takeda. "We believe that ITI's PDE1 inhibitors have the potential to be a novel drug with a new mechanism of action which will satisfy unmet medical needs for the millions of patients suffering from schizophrenia. We plan to accelerate our R&D activities for this compound in an effort to bring this novel medicine to patients as quickly as possible."

- here's the ITI release